Monthly Index Increased +0.3% During June
Black Book, a division of Hearst that provides industry-leading used vehicle valuation and residual value forecast solutions, released its Used Vehicle Retention Index for May showing that it increased 0.4% during June registering 113.3 and up from 112.9 in May. The Index has changed +0.3% over the last twelve months (113.0). Click here to obtain a copy of the latest index data.
The Black Book Used Vehicle Retention Index is calculated using Black Book’s published Wholesale Average value on two- to six-year-old used vehicles, as percent of original typically-equipped MSRP. It is weighted based on registration volume and adjusted for seasonality, vehicle age, mileage, and condition. The Index offers an accurate, representative, and unbiased view of the strength of today’s used vehicle market values.
June saw several car and truck segments make a splash during the month with small cars and SUVs providing the biggest impact to the overall index. Sub-Compact (+1.4%), Sporty (+1.2%), Premium Sporty (+.7%), Compact (+.7%), and Compact Crossovers (+.5%) had the largest gains.
“The used car and truck market continues to show its resilience with several segments continuing to serve as the catalyst in driving overall increases to the Black Book Vehicle Retention Index, long after the spring market has ended,” said Anil Goyal, Executive Vice President, Operations. “We believe that the used vehicle market strength is reaching its plateau and will return to its pattern of accelerating depreciation as we get deeper into the calendar year.”
The Index dates back to January 2005, where Black Book published a benchmark index value of 100.0 for the market. During 2008, the index dropped by 14.1% while during 2016, the index fell by just 6.4%. During 2011, the index rose strongly from 113.3 to 123.0 by the end of the year as the economy picked up steam and used vehicle values rose higher. It continued to remain relatively stable, rising slightly until May of 2014 when it hit a peak of 128.1.
To obtain a copy of the latest Black Book Wholesale Value Index, please click here.
About Black Book
Black Book® is best known in the automotive industry for providing timely, independent and accurate vehicle pricing information, and is available to industry-qualified users through online subscription products, mobile applications and licensing agreements. Since 1955 Black Book has continuously evolved to ensure that it achieves its goal of delivering mission-critical information to its customers, along with the insight necessary to successfully buy, sell, and lend. Black Book data is published daily by National Auto Research, a division of Hearst, and the company maintains offices in Georgia, Florida, and Maryland as well as the Canadian Black Book in Toronto. For more information, please visit BlackBook.com or call 800.554.1026.